Ghana: Newmont Pays Over Gh¢843.72m ...As Q1 Taxes to Govt

24 May 2023
Ghanaian Times (Accra)

Newmont, a gold producer and operator of two gold mines in Ghana says it has paid a total of GH¢843.72 million in taxes, royalties, and levies to the Government of Ghana (GoG) in the first quarter of this year.

The company, in a press statement issued and copied the Ghanaian Times yesterday, indicated that the payment was made through the Ghana Revenue Authority (GRA), Forestry Commission and the Ministry of Finance.

According to the statement, the amount was broken down into Corporate Tax of GH¢514.57 million; Minerals Royalties of GH¢197.06 million, GH¢78.23 as Pay As You Earn (PAYE), GH¢42.31 as Withholding Tax, and GH¢11.55 as Forestry Levy.

The Regional Senior Vice President, Newmont Africa Operations, Mr David Thornton in the statement said "fulfilling our obligations in terms of statutory payments, and being transparent about what we pay, are in line with our commitment to regulatory compliance and good corporate governance."

"It is important, especially in these challenging times, for companies to honour their obligations to the state, as well to their various stakeholders, through direct payment of their taxes and investment in social programmes," he added.

Read the original article on Ghanaian Times.

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